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ASX today – Australian shares are heading for a moderate gain today, set up to gain as much as 60 points – a +0.65% bump – at open per futures, as the ASX looks to join what is shaping up to be a ‘buy the dip’ rally.
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Nothing’s really changed from yesterday on the gov’t shutdown front, though the U.S. Senate is posturing to bring things to a close quickly.
Even just that suggestion (a vote went through on the stalemate on Sunday) has been enough to galvanise global traders; many believe they’ve spotted the bottom of the retreat and now angle to snap up cheap bargains.
The U.S. tech sector was the most buoyant, with the Nasdaq composite barrelling +2.29% higher. The S&P 500 followed with a +1.5% leap.
Outside Wall Street, the London bourse added +1% and the Nikkei popped +1.3%.
Under those headwinds, let’s take a look at Aussie stock news.
ASX stocks to watch
First up, Commonwealth Bank (ASX:CBA) saw a marginal rise in first-quarter profits, the bourse leader reported, with tech-related costs the laggard; “resilient lending” helped keep profit after tax up at $2.6 billion.
Activeport Group (ASX:ATV) is heralding the launch of its NNI Exchange in the Middle East, which it says will “unlock $112 billion” in that overseas AI market.
And, yesterday was a rare day where Resources and Energy led the way. That sets this Tuesday’s trade up with them as ones to watch; Pilbara Minerals (ASX:PLS) had been a standout gainer, adding +9% to close.
In a similar vein, Rox Resources (ASX:RXL) has officially started underground mining at its Youanmi Gold Project, with the first cut fired at United North.
Bourse stalwarts like Coles (ASX:COL) and TPG (ASX:TPG) have AGMs today, too.
Buck and ore
Now – in forex, the Oz dollar buys 65.3 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore gained +0.9%, to $102.15 a tonne in Singapore,
Brent Crude added +0.6%, to $64.02/bbl,
Gold has refired its ’25 advance, today selling at $4,117 an ounce, and,
US natgas futures are up +1.5%, at $4.38 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck, happy trading.
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